Announcing BlueBit IDO

Off the back of our successful partnership with Bluebit Finance, we’re pleased to announce the Token Distribution Event for their protocol gateway token, $BBT. $BBT is the access token into Bluebit’s yield aggregator ecosystem. The token, which can also be earned through liquidity mining rewards and DEX trading, confers protocol governance and fee-sharing ability on token holders once locked up for veBBT token.

Users can lock up $BBT token to get veBBT with the following benefits:

  • 50% weekly platform fee rebate for users holding veBBT tokens
  • Vault boosting ability for liquidity mining
  • Protocol governance rights

Users may choose to lock their token up for a week or up to 52 weeks. They can also extend the duration of the lock at will. The number of veBBT tokens received depends on the lockup duration. The longer the lockup, the more tokens received as illustrated below for locking 1 $BBT:

3 months lockup = 0.25 veBBT.

6 months lockup = 0.5 veBBT.

9 months lockup= 0.75 veBBT.

12 months lockup = 1 veBBT.

The more $BBT locked for veBBT, the higher the fee rebates and farm boosts.

The rebate pool is a weekly distribution event consisting of 50% of all protocol fees equally distributed between USDT and BBT tokens.

Token Distribution Event

The TDE on NearPad will kick off on the 11th of March as scheduled below:

Ticker Symbol: BBT

IDO Date: Mar 11th

IDO Supply Percentage: 1%

Initial Market Cap: $250k

Total Supply: 100,000,000

Seed/Private Price: $0.1/$0.2

Percentage of Total Supply for IDO:1% (0.4% for NearPad)

Amount for IDO: 1,000,000 (400,000 for NearPad)

Accepted Currency: USDT

Price per Token: $0.25

IDO Vesting: 40% unlocked, 20% vesting each month for 3 months

IDO Start Date: March 11th, 12:00 UTC

IDO End Date: March 13th, 12:00 UTC

AfterSale Start Date (FCFS for Stakers): March 13th, 12:00 UTC

AfterSale End Date (FCFS for Stakers): March 15th, 12:00 UTC

Claim Date: March 23th, 9:00 UTC

Bluebit Finance is set to launch its testnet within two weeks followed shortly by the mainnet. Ahead of this event, we’ll be hosting an AMA with the team in our Telegram group on the 9th by 13:00 UTC.

Stay tuned.

BlueBit Finance Links
Website: https://www.bluebit.fi/
Twitter: https://twitter.com/BlueBitFinance
Telegram: https://t.me/bluebitfinance

NearPad Links
Website: https://nearpad.io/
Twitter: https://twitter.com/NearPad
Telegram: https://t.me/nearpad

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DeFi Hub for NEAR Ecosystem. nearpad.io

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DeFi Hub for NEAR Ecosystem. nearpad.io

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